Tata Tele in talks with ATC to sell entire stake in tower biz for ₹2,500 crore

  • ATC's stake in ATC TIPL is likely to reach around 90% if the Tata Teleservices exits the business after selling entire stake
  • ATC TIPL is the second-largest private telecom tower firm in India with a portfolio of around 78,000 mobile towers

PTI
Updated24 Apr 2019, 06:42 PM IST
ATC TIPL is the second-largest private telecom tower firm in India with a portfolio of around 78,000 mobile towers.
ATC TIPL is the second-largest private telecom tower firm in India with a portfolio of around 78,000 mobile towers.(Indranil Bhoumik/Mint)

Tata Teleservices is in talks with American Tower Corporation to sell its entire stake in the mobile tower business for about 2,500 crore at a price of 212 per share.

"Tata Teleservices sold half of its stake to American Tower Corporation (ATC) in October 2018. It is option to sell the rest of the stake it holds along with Tata Sons in this fiscal. The process for sale has started for valuation of around 2,500 crore at 212 per share," a source, who did not wish to be identified, told PTI.

No immediate reply was received from ATC and Tata Teleservices on an e-mail query sent to them in this regard.

Tata Teleservices sold half of its 26% stake and IDFC its entire stake in mobile tower company ATC TIPL to majority shareholder American Tower Corporation (ATC) for 2,940 crore.

In October 2015, ATC bought a 51% stake in Viom from Tata Teleservices Ltd and SREI Infrastructure Finance for 7,635 crore. After acquiring majority stake, ATC named the firm as ATC Telecom Infrastructure Pvt Ltd.

ATC TIPL is the second-largest private telecom tower firm in India with a portfolio of around 78,000 mobile towers.

Tata Teleservices' stake in Viom Networks came down to 26% after ATC acquired a majority stake in the company and merged its existing India business and further reduced to 13% after stake sale in October 2018.

ATC's stake in ATC TIPL is likely to reach around 90% if the Tata Teleservices exits the business after selling entire stake.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
First Published:24 Apr 2019, 06:42 PM IST
HomeCompaniesNewsTata Tele in talks with ATC to sell entire stake in tower biz for ₹2,500 crore

Most Active Stocks

Tata Steel

167.05
03:57 PM | 16 JUL 2024
0.25 (0.15%)

Oil & Natural Gas Corporation

322.40
03:58 PM | 16 JUL 2024
-0.15 (-0.05%)

Bandhan Bank

198.30
03:41 PM | 16 JUL 2024
2.95 (1.51%)

Coal India

512.35
03:59 PM | 16 JUL 2024
14.4 (2.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Natco Pharma

1,281.05
03:59 PM | 16 JUL 2024
73.2 (6.06%)

Century Textiles & Industries

2,217.55
03:48 PM | 16 JUL 2024
116.85 (5.56%)

Tata Teleservices Maharashtra

81.33
03:54 PM | 16 JUL 2024
4.23 (5.49%)

India Cements

323.05
03:55 PM | 16 JUL 2024
15.8 (5.14%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,318.00-453.00
    Chennai
    74,755.00928.00
    Delhi
    75,266.001,294.00
    Kolkata
    75,047.001,002.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.01
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsCibilPremiumMint Shorts